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The European Central Bank delved deep into its remaining arsenal of stimulus options on Thursday, cutting all three of its interest rates and expanding asset-buying to boost the economy and prevent ultra-low inflation becoming entrenched.

Ray Dalio, founder of the world's largest hedge fund Bridgewater Associates, says the next big monetary and fiscal move should include an airdrop of money from helicopters to stimulate the U.S. economy.

There is firm support for a deposit rate cut within the European Central Bank's Governing Council but appetite for more radical action is still limited, conversations with policymakers indicate a month before the March rate decision.